$500m credit contract signed for Vietnam’s infrastructure projects

The Export-Import Bank of the United States (US Ex-Im Bank) yesterday signed a credit contract worth $500 million with Vietnam Development Bank (VDB) in Hanoi in a cooperation framework between the two banks in order to carry out high priority infrastructure projects in Vietnam.

In addition, US Exim Bank and VDB also agreed to share information relating to trade and business opportunities with each other with purposes of creating favourable conditions for selling equipment and services from the US to Vietnam.

Fred P Hochberg, chair cum general director of the US bank emphasized that Vietnam was one of nine countries that his bank would set priority to launch business activities in the near future. The signing of this $500 million was one of efforts to support Vietnam’s socio-economic development progress as well as to boost the trading and investment cooperation relationship between the two countries.

This credit would be used for investment in infrastructure development projects with priority of communication and transportation network, including expressways, railway, renewable energy and other energies, waste treatment and health care services.

Tags: Vietnam Infrastructure

Posted by VBN on Jun 15 2010. Filed under Infrastructure. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry